Skipton: House price rise is "good news" for property market

Friday 17 November 2017

The latest House Price Index provides good news for the Jersey property market with house prices continuing to rise says Skipton International.

The average price of homes sold during the third quarter of the year rose a further 1% from last quarter and was 2% higher when compared with the same quarter in 2016. Market activity for the period was down slightly, having dropped by 1% against the previous quarter.

Only one-bedroom flats and two-bedroom houses were seen to have a marginal decrease in their average price. But both these property types saw a rise in average price by £5,000 compared to last year.

Lorraine McLean (pictured), Mortgage Sales Manager, Skipton International, said: “We have been very busy here at the Skipton Mortgage Centre and anticipate the year to close on a high.

“Despite the base rate having increased for the first time in ten years, we do not foresee this having much impact on the property market. The rise was well expected by home owners and certainly hasn’t dampened interest from islanders looking to make their next move.”

Ms McLean added: “Whilst there has been a slight drop in transactions this quarter this shouldn’t be viewed in isolation, overall the figures show that the local market has been getting stronger and is currently in a healthy and encouraging place.”